MB 053: Don’t Lose it All – With Bobby Casey

Bobby Casey, an entrepreneur, and world traveler who now specializes in helping people protect their assets and live off the grid. He’s managing director of Global Wealth Protection, which provide asset protection strategies to shield your wealth from frivolous litigation and create "sleep at night" insurance. 

His company can properly structure your offshore company, trusts, foundations and provide bank account introductions to more than a dozen banks around the world. In addition, they can help you move your IRA funds offshore.

We truly live in a world gone mad. Lawsuits are easy to file, the rewards can be enormous, and there’s no down side to losing a lawsuit.

Story of house flip.

Bobby describes how to structure the entities so that it’s hard for attorneys to figure out what you own. By using advanced techniques, like irrevocable trusts, it’s actually possible to not own anything, so even if you do get sued, there’s nothing to attach the judgment to.

Listen to this episode and implement Bobby’s techniques NOW before you lose it all.

 Key Takeaways:

[3:39] Bobby’s Backstory

Owns Global Wealth Protection His mission is to teach people how to internationalize their business, wealth, and life. He caters to those who are interested in an international business and lifestyle

[4:32] His thoughts on living like a nomad

He’s been an expat for almost a decade and lives in Latvia He says a digital nomad is “an expat with commitment issues” He is passionate because the technology today makes it significantly easier to become a digital nomad.

[7:26] His life before he became a digital nomad

Started, bought, sold a dozen businesses. He has been an entrepreneur his entire adult life and had a few epic failures along the way. He started being a digital nomad because he’s an expat.

[9:47] His thoughts on real estate investing

Real estate investing is a great opportunity for people who want to have a nomadic lifestyle. He likes the concept of parking money in physical assets. His advice is to diversify geographically

[13:16] Mistakes investors often make

Poor structuring of a deal is a common mistake He provides an example of how damaging poor structuring can be

[17:21] His advice to prevent poor structuring of deals

He doesn’t recommend home state LLC own their property Don’t create an umbrella of ownership in one corporation Have an irrevocable trust on the membership interest in all LLCs

[21:50] Irrevocable trust and its beneficiaries

An irrevocable trust is an asset protection and estate planning tool You'll be a grantor or settlor of the trust. You don't have any asset that's attachable at a judgment at all.

[26:20] Federal Lawsuits

According to the American Bar Association, the statistics on federal lawsuits says a new lawsuit is filed every 16.5 seconds.

[29:26] Another mistake and what’s it like to file a lawsuit in the US

Another common mistake is owning a property in your own name. A mindset that no one will sue you makes no sense. In the US, there are no consequences to sue somebody for no good reason.

[34:20] Bobby’s advice on implementing asset security

Don’t own anything in your name. Have a properly structured LLC Wyoming is a preferred state unless you live there in which case use Nevada.

[37:37] Bobby’s “aha” moment

Started a business in the 90's assembling bicycles for Walmart. An official letter from Walmart suddenly canceled his vendor contract as of that day. This was his big wake-up call on putting too many eggs in one basket.

Connect with Bobby Casey:

Global Wealth Protection Facebook Twitter

Resources Mentioned:

American Bar Association